Canadian Natural Resources Limited acquires, explores, develops, produces, markets and sells crude oil, natural gas and natural gas liquids (NGL). The company is headquartered in Calgary, Canada.
| Revenue (TTM) | $44.68B |
| Gross Profit (TTM) | $23.04B |
| EBITDA | $19.13B |
| Operating Margin | 43.10% |
| Return on Equity | 26.70% |
| Return on Assets | 7.91% |
| Revenue/Share (TTM) | $21.45 |
| Book Value | $15.93 |
| Price-to-Book | 2.94 |
| Price-to-Sales (TTM) | 2.48 |
| EV/Revenue | 2.975 |
| EV/EBITDA | 6.42 |
| Quarterly Earnings Growth (YoY) | 83.80% |
| Quarterly Revenue Growth (YoY) | 69.50% |
| Shares Outstanding | $2.06B |
| Float | $2.01B |
| % Insiders | 2.17% |
| % Institutions | 78.61% |
Volatility is currently expanding
Canadian Natural Resources (CNQ) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
GSBD, HRB, CNQ made it to the Zacks Rank #1 (Strong Buy) income stocks list on October 6th, 2026.
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Last week, JPMorgan analysts revealed that predicting the endgame for oil is difficult amid the current uncertain geopolitical backdrop. I developed a ranking system to understand the best opportunities in the oil sector today, with weights assigned to upside capture, downside protection, and capital distribution, among other things. Canadian Natural Resources scored 89/100 in my model, securing the top spot in my ranking system, ahead of ExxonMobil, Occidental Petroleum, and even EOG Resources.
Canadian Natural Resources remains a Buy, with a thesis less dependent on oil prices than in April. CNQ's share price has shown resilience, correcting only ~3.5% versus a ~15% drop in WTI since April, without multiple expansion. A policy catalyst is expected in November via Canada's trilateral oil sands MOU, potentially supporting growth projects.
Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - Canadian industry, we advise focusing on shares of BTE, IPOOF and CNQ.
For investors seeking energy exposure without assuming excessive risk, KMI, CVX and CNQ offer a mix of scale, financial strength and dependable shareholder returns.
CNQ's record production, low-cost oil sands assets and growth initiatives support its outlook, but commodity risks and a Horizon turnaround warrant caution.
Canadian Natural Resources excels as a low-cost oil producer, capitalizing on oil price volatility and minimal Middle East exposure. Q2 saw CNQ generate $2.9 billion in free cash flow, sharply increasing buybacks and progressing toward a 100% free cash flow return to shareholders. Management anticipates reaching the 100% free cash flow return threshold by year-end if oil price volatility persists.
Canadian Natural raised its 2026 production outlook again while keeping operating capital at C$5.99B, putting capital efficiency and execution in focus.
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